# EURUSD Descending Trend Line (Oct 7, 2014) Source: https://www.tradersway.com/resources/market-info/eurusd-descending-trend-line-oct-7-2014/ Language: en Updated: 2014-10-07 Description: Explore EURUSD Descending Trend Line (Oct 7, 2014). EURUSD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURUSD has been moving in a downtrend for quite some time, forming a descending trend line in connecting the recent highs. The pair has bounced off the 1.2500 major psychological support level and pulled up to the 1.2650 area, which lines up with the trend line and 200 SMA resistance. Stochastic is reflecting overbought conditions and showing a bearish divergence with higher highs while price is making lower highs. This could be a sign that the downtrend would resume sooner or later, which might then take EURUSD back to the previous lows at 1.2500. MACD is also in the overbought area, suggesting that a drop to the support level might take place. Stronger selling pressure could even lead EURUSD to form new lows later on. Shorting at market with a stop above the 200 SMA or trend line and a target at 1.2500 could yield a high return on risk. Aiming for new lows could improve the return on risk but it would be prudent to trail the stop once price hits the previous lows. ![EURUSD Descending Trend Line (Oct 7, 2014)] Event risks for this trade include the release of the German industrial production figures and a couple of speeches from FOMC members. Bear in mind that euro zone reports were weaker than expected recently while the US printed an upbeat September NFP reading. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurusd-descending-trend-line-oct-7-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/eurusd-descending-trend-line-oct-7-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurusd-descending-trend-line-oct-7-2014/", "headline": "EURUSD Descending Trend Line (Oct 7, 2014)", "inLanguage": "en", "datePublished": "2014-10-07T07:00:43+00:00", "dateModified": "2014-10-07T07:00:43+00:00", "articleSection": "Market Info", "description": "Explore EURUSD Descending Trend Line (Oct 7, 2014). EURUSD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurusd-descending-trend-line-oct-7-2014/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURUSD Descending Trend Line (Oct 7, 2014)", "item": "https://www.tradersway.com/resources/market-info/eurusd-descending-trend-line-oct-7-2014/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```